Mid Cap Credit FAQs
Agri And Rural
What are the stages involved in taking a loan?
There are three main stages:
- Application: Submission of your audited and projected financial statements required for initial processing of your case
- Sanction: Approval of a specific loan amount
- Disbursement: Transfer of loan amount.
How do I repay the loan?
For cash credit and short term loans, repayment may be made through post-dated cheques (PDC's) / auto debit mandate from your account / electronic clearing system (ECS) mandate / cheque / cash.
Who can avail of loans under these programmes?
The programme is open to any Agri-linked SMEs like Agri-traders, manufactures or processors of Agri-based products as well as providers of logistics services to the Agri-sector. It must be an existing entity and able to provide audited financial statements to be eligible to apply for a loan under these programmes. If the firm itself does not meet these criteria, the promoters may provide recourse through a sister concern. A corporate guarantee can also avail of a loan under these programmes. Your firm must qualify in all the parameters set by the Bank.
What kind of business constitution can be an applicant under these programs?
Individuals, Proprietorships, Partnership firms and Private limited or Public limited business constitutions can be applicants under these programs.
What are the facilities offered under these programmes?
Short-term as well as long-term assistance and fund facilities as well as non-fund facilities are offered. These include:
- Cash credit / Overdraft
- Working capital demand loan (WCDL)
- Bill discounting / Invoice discounting
- Export bill negotiation
- Export packing credit
- Letter of credit
- Bank guarantees
- Short-term line of credit
- Term loan
What is the tenure of the facilities being offered?
The working capital facilities are usually for a period of one year and are renewed on an annual basis. The tenure for term loans is fixed depending on the requirements of the project; generally in excess of five years.
What kind of security is required under these programmes?
Loans are sanctioned against charge on current assets and collateral, based on certain conditions. Acceptable collateral includes:
What is the maximum amount that may be availed of?
A maximum of up to Rs. 200 million i.e. Rs. 20 crore may be sanctioned, subject to conditions.
Is transfer of outstanding balance from other banks permissible?
Yes. You may transfer your outstanding balances to ICICI Bank as long as it is within the overall limit sanctioned to your firm
How do I apply for these programmes?
You may contact our local Solution Managers to discuss how we can provide you with loan facilities under MCC. Please get in touch with any of the following officers of ICICI Bank to request a visit from our Solution Manager:
- Central Team: Saurav Saha (9821373002)
- Delhi: Prerna Saxena (9899845454)
- Haryana: Deepak Pawar (9811925498)
- Rajasthan: Manish Khandelwal (9982210277)
- U.P.: Kaushik Mehrotra (9818212610)
- Punjab: Rateesh Sharma (9888996233)
- Maharashtra: Anjan Pal (9821509245)
- Gujarat: Rajesh Rathi (9979889314)
- M.P.: Abhijit Saha (9993032424)
- Tamil Nadu: Karthikeyan S. (9894671447)
- Kerala: Ajith Somarajan (9846771712)
- Karnataka: Anbuchelvi K.S.L. (9945512453)